Renewable Energy; Declining Costs

Solar is getting more efficient and lower cost. Wind turbines are, in terms of energy pay-back a better bet. But we need tidal and wave power, and other renewables, too, in a balaced mix of sources.

The cost of renewable energy has declined precipitously. Between 2009 and 2014, the cost of solar photovoltaic (PV) modules declined by 75 percent, while the cost of wind turbines dropped by 33 percent. Furthermore, the cost of residential solar PV has been declining significantly in recent years: in 2015, it was competitive with natural gas generation in India and nearly so in China. Battery storage is also becoming less expensive, which will make distributed energy even more affordable. Between 2008 and 2014, battery costs have declined 20 percent each year. (Credit to World Resources institute)

Bill Butterworth, Land Research Ltd 6 November ’18

 

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